Expectations of budgetary sops, healthy Q3 results lift equities

 

Anticipation of healthy quarterly earnings results and budgetary sops, coupled with a strengthened rupee, buoyed the Indian equities markets on Thursday.

Both the key indices provisionally closed in the green, as healthy buying was witnessed in capital goods, IT and TECK (technology, media and entertainment) stocks.

However, negative European indices and caution ahead of the release of the Index of Industrial Production (IIP) and Consumer Price Index (CPI) data for December capped gains.

The wider 51-scrip Nifty of the National Stock Exchange (NSE) rose by 26.55 points or 0.32 per cent to 8,407.20 points.

The barometer 30-scrip sensitive index (Sensex) of the BSE, which opened at 27,171.66 points, provisionally closed at 27,247.16 points (at 3.30 p.m.) -- up 106.75 points or 0.39 per cent from the previous close at 27,140.41 points.

The Sensex touched a high of 27,278.93 points and a low of 27,166.69 points during the intra-day trade.

On the contrary, the BSE market breadth was tilted in favour of the bears -- with 1,556 declines and 1,208 advances.

On Wednesday, the benchmark indices surged on the back of positive global cues and higher crude oil prices.

The NSE Nifty rose by 92.05 points or 1.11 per cent to 8,380.65 points, while BSE Sensex was up 240.85 points or 0.90 per cent.